Indian Stock Markets Decline for Third Day as Sensex and Nifty Tumble
- Business
The Time Press
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The Indian stock market indices experienced a downturn today, marking the third consecutive session of losses. The BSE Sensex closed 139 points lower at 80,082, while the NSE Nifty ended with a 37-point decline at 24,435. Both key indices saw a marginal drop of over 0.1 percent, reflecting cautious trading amidst global market dynamics.
Despite the downturn in major indices, the broader market at the Bombay Stock Exchange (BSE) saw positive movement. Mid-cap stocks gained approximately 0.5 percent, and small-cap stocks surged by over 0.9 percent, indicating investor interest in diversified portfolios.
Within the Sensex, 22 out of 30 constituents ended in the red. Notably, Mahindra and Mahindra dropped 3.2 percent, Sun Pharma decreased by 2.7 percent, and PowerGrid Corp fell by 1.8 percent. On the other hand, Bajaj Finance was among the top gainers, rising nearly 5 percent, followed by Tech Mahindra with a 2.2 percent increase, and HCL Tech, which added 1.2 percent.
Sectoral performance at BSE was mixed, with 12 out of 20 sectors closing in the negative. The power sector was hit the hardest, declining 1.39 percent, followed by capital goods and healthcare sectors, which saw drops of over 1 percent and 0.8 percent, respectively. Conversely, the IT sector was among the top gainers, with a nearly 2 percent rise, reflecting global demand for technology services.
Market breadth remained positive with 2,177 advancing stocks compared to 1,751 declining ones on the BSE, with 103 stocks remaining unchanged. At the NSE, 44 companies reached their 52-week highs, while 154 touched their 52-week lows, highlighting the volatile market conditions.
